Interim report
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－ 1 － Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. Non-Consolidated Financial Results for the Three Months Ended June 30, 2026 (Under Japanese GAAP) August 3, 2026 Company name: Workman Co., Ltd. Listing: Tokyo Stock Exchange Securities code: 7564 URL: https://www.workman.co.jp/ Representative: Representative Director & President Koji Ohuchi Inquiries: Director & Treasurer Yukitaka Iizuka Telephone: +81-338477730 Scheduled date to commence dividend payments: － Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes (for securities analysts and institutional investors) (All amounts are rounded down to the nearest million yen) 1. Non-consolidated financial results for the three months ending June 30, 2026 (April 1, 2026 – June 30, 2026) (1) Non-consolidated operating results (Percentages represent year-on-year changes) Total operating revenue Operating profit Ordinary profit Net income Three months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % June 30, 2026 51,812 24.7 12,031 33.3 12,431 34.6 7,792 34.0 June 30, 2025 41,560 12.2 9,028 28.4 9,235 28.5 5,817 29.0 Basic earnings per share Diluted net income per share Three months ended Yen Yen June 30, 2026 95.48 － June 30, 2025 71.28 － (Reference) Net sales at all chain stores (millions of yen) Three months ended June 30, 2026: 67,561 (YoY 18.6%) Three months ended June 30, 2025: 56,947 (YoY 14.2%) (2) Non-consolidated financial position Total assets Net assets Equity ratio As of Millions of yen Millions of yen % June 30, 2026 184,523 154,235 83.6 March 31, 2026 185,257 153,456 82.8 (Reference) Equity (millions of yen) As of June 30, 2026 154,235 As of March 31, 2026 153,456 2. Dividends Annual dividends per share Q1-end Q2-end Q3-end Year-end Total Yen Yen Yen Yen Yen Fiscal year ended March 31, 2026 － 0.00 － 89.00 89.00 Fiscal year ended March 31, 2027 － Fiscal year ended March 31, 2027 (Forecast) 0.00 － 89.00 89.00 (Note) Revision from the most recently released expected dividend: None 3. Forecast of Non-consolidated financial results for the fiscal year ending March 31, 2027 (April 1, 2026 – March 31, 2027) (Percentages represent year-on-year changes) Total operating revenue Operating profit Ordinary profit Net income Net income per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Q2 (cumulative) 94,203 23.7 17,666 22.3 18,341 23.3 11,310 22.6 138.58 Full year 183,376 14.0 32,112 8.2 33,418 9.3 22,329 8.3 273.60 (Note) Revision from the most recently released forecast of financial results: None (Reference) Net sales at all chain stores (millions of yen) Q2 (cumulative) 123,785 (YoY change +21.9%) Full year (cumulative) 237,970 (YoY change +13.7%)
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－ 2 － ※ Notes (1) Adoption of accounting treatment specific to the preparation of semi-annual non-consolidated financial statements: None (2) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (3) Number of outstanding shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of June 30, 2026 81,846,816 shares As of March 31, 2026 81,846,816 shares (ii) Number of treasury shares at the end of the period As of June 30, 2026 233,688 shares As of March 31, 2026 233,688 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Three months ended June 30, 2026 81,613,128 shares Three months ended June 30, 2025 81,610,103 shares ※ The attached Summary of Quarterly Financial Results is not subject to the quarterly review by certified public accountants or an auditing firm. ※ Explanation regarding the appropriate use of the forecast of financial results and other special notes (Cautionary statements with respect to forward-looking statements) Forward-looking statements in this material, including forecasts of financial results, are based on information currently available to the Company and certain assumptions judged to be rational, and the Company does not warrant their achievement. Actual financial results may differ significantly from these forecasts for a number of factors. (How to obtain supplementary explanatory materials for the quarterly financial results) The Company will disclose supplementary explanatory materials for the quarterly financial results on TDnet on Monday, August 3, 2026.
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－ 3 － Quarterly Non-consolidated Financial Statements (1) Quarterly Non-consolidated Balance Sheet (Millions of yen) As of March 31, 2026 As of June 30, 2026 Assets Current assets Cash and deposits 83,743 82,482 Accounts receivable-trade 4,612 5,303 Securities － 3,099 Accounts receivable-due to franchise stores 14,470 17,230 Merchandise 29,770 22,677 Inventory goods 145 78 Guarantee deposits to be recovered within one year 554 503 Other 5,144 5,769 Allowance for doubtful accounts △0 △0 Total current assets 138,440 137,144 Non-current assets Tangible non-current assets Buildings (net) 24,531 24,994 Land 5,395 6,198 Other (net) 8,604 8,203 Total tangible non-current assets 38,531 39,396 Intangible non-current assets 1,437 1,580 Investment and other assets Guarantee deposits 4,395 4,475 Other 2,453 1,927 Allowance for doubtful accounts △1 △1 Total investment and other assets 6,847 6,401 Total non-current assets 46,816 47,379 Total assets 185,257 184,523 Liabilities Current liabilities Accounts payable-trade 6,826 4,845 Accounts payable to franchise stores 2,639 3,179 Short-term borrowings 1,350 1,350 Corporate income taxes payable 6,526 4,511 Provisions for executive bonuses 82 17 Other 9,029 10,859 Total current liabilities 26,454 24,763 Non-current liabilities Long-term guarantee deposits received 1,030 1,033 Asset retirement obligations 4,069 4,266 Other 245 224 Total non-current liabilities 5,345 5,524 Total liabilities 31,800 30,287 Net assets Shareholders’ equity Capital stock 1,622 1,622 Legal capital surplus 1,342 1,342 Other capital surplus 14 17 Capital surplus 1,356 1,360 Retained earnings 147,544 148,074 Treasury shares △68 △68 Total shareholders’ equity 150,456 150,988 Valuation and translation adjustments Deferred gains or losses on hedges 3,000 3,246 Total valuation and translation adjustments 3,000 3,246 Total net assets 153,456 154,235 Total liabilities and net assets 185,257 184,523
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－ 4 － (2) Quarterly Non-consolidated Statement of Income (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Operating revenue 11,271 14,014 Net sales 30,288 37,798 Total operating revenue 41,560 51,812 Cost of sales 24,939 30,974 Adjusted operating profit before SG&A 16,620 20,837 Selling, general and administrative expenses 7,592 8,806 Operating profit 9,028 12,031 Non-operating income Interest income 153 237 Purchase discounts 38 102 Other 23 68 Total non-operating income 215 408 Non-operating expenses Interest expenses 8 9 Other 0 0 Total non-operating expenses 8 9 Ordinary profit 9,235 12,431 Extraordinary income Gain on sales of non-current assets 0 － Gain on sale of businesses － 164 Total extraordinary income 0 164 Extraordinary loss Loss on retirement of non-current assets 9 21 Total extraordinary loss 9 21 Profit before income taxes 9,226 12,574 Income taxes-current 3,188 4,351 Income taxes-deferred 221 430 Total corporate income taxes 3,409 4,781 Net income 5,817 7,792